Founders Metals Completes 36,000 Hectare Acquisition & Expands Upper Antino Gold Mineralization to 2.5 Kilometres
Founders Metals Completes 36,000 Hectare
Acquisition & Expands Upper Antino Gold
Mineralization to 2.5 Kilometres
Vancouver, British Columbia--(Newsfile Corp. - November 20, 2025) -
Founders Metals Inc.
(TSXV:
FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces that it has signed the
Definitive Agreement to acquire 100% ownership of the previously announced 36,000 hectare (ha)
exploration concession west of the Company's Antino Gold Project ("Antino" or the "Project") in
Southeastern Suriname (Figure 1). The acquisition expands the Project area to 56,000 ha and allows
Founders to restart northwestward expansion drilling of Upper Antino, which was previously stopped at
the concession boundary, but where historical auger gold anomalies support considerable potential
growth (Figure 2).
Founders also announces drill core assay results from its ongoing 60,000 metre (m) drill program. The
results extend Upper Antino gold mineralization to a total strike length of over 2,500 m, and include
intervals of
17.0 m of 3.06 g/t Au in hole FR157
and a broader,
near-surface interval of 60.0 m of
0.85 g/t Au
from a depth of only 8.1 m in hole FR172
.
Colin Padget, Founders' President & CEO, commented
: "This is a transformational period for
Founders - over the past two weeks, we've closed a C$50 million strategic investment from Gold Fields,
expanded the Antino land package to 56,000 hectares, and with today's results, demonstrated excellent
along-strike, progressive growth of gold mineralization at Upper Antino.
With a strong cash position, a proven exploration team, and clear ability to operate efficiently in
Suriname, Founders is well positioned to systematically explore our ever-growing land package of highly
prospective geology with the proven potential to host multi-million-ounce gold deposits. Our four drills are
currently turning at Da Vinci, Lower Antino, Parbo, and Upper Antino, with Van Gogh drilling planned to
begin shortly. Results from Maria Geralda and Parbo are expected in the coming weeks, followed by
results from other priority targets through Q4 and into early 2026."
Drilling Highlights:
250-metre Extension Along Parallel Gold Mineralization Continues Between Froyo and Donut
17.0 m of 3.06 g/t Au, including 4.0 m of 10.44 g/t Au
from 195.0 m (FR157), confirming
mineralization continues along strike to the southeast (Figure 2 & 3)
46.0 m of 1.03 g/t Au, within a broader 60.0 m interval of 0.85 g/t Au
from 8.1 m (FR172),
demonstrating near-surface mineralization with significant widths
14.0 m of 1.88 g/t Au
from 225.0 m (FR154)
Main Froyo Zone Drilling Demonstrates Vertical Continuity Along Multiple Structures
7.0 m of 11.74 g/t Au
from 197.0 m,
19.0 m of 1.18 g/t Au
from 133.0 m, and
4.0 m of 5.10 g/t
Au
from 109.0 m (FR173)
Definitive Agreement
Founders has signed a Definitive Agreement and closed the transaction announced on
October 31,
2025
to acquire 100% of the 36,000 ha Right of Exploration on the concession immediately west of
Antino with an arm's length Surinamese private company. Total consideration for the acquisition
comprises US$5.0 million (US$139/ha) in cash plus contingent milestone payments of: (1) US$1.0
million upon publishing a mineral resource estimate of 1 million or more ounces of gold, (2) a one-time
payment of US$2.50 per recoverable ounce defined in a completed Feasibility Study, and (3) US$2.50
per ounce produced beyond the Feasibility Study estimate.
Figure 1: Antino Gold Project Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/275298_83fa948994944ab4_001full.jpg
Figure 2: Upper Antino Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/275298_figure%202.png
Figure 3: Oblique View & Long-Section of Upper Antino Drilling by Founders to Date
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/275298_figure3.png
Table 1: Upper Antino Assay Results
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
FR174
0.0
8.1
8.1
0.84
and
18.6
29.1
10.5
1.85
and
35.1
38.1
3.0
1.32
and
166.0
172.0
6.0
0.61
FR173
0.0
12.6
12.6
0.66
and
109.0
113.0
4.0
5.10
and
133.0
152.0
19.0
1.18
and
197.0
204.0
7.0
11.74
FR172
8.1
68.1
60.0
0.85
incl.
14.1
45.6
46.0
1.03
and
77.1
83.1
6.0
0.69
and
89.1
105.6
16.5
0.34
FR171
140.0
153.0
13.0
0.53
and
194.0
203.0
9.0
3.20
and
236.0
252.0
16.0
0.93
and
275.0
277.0
2.0
1.89
and
306.0
314.0
8.0
0.58
and
327.0
329.0
2.0
7.28
and
387.0
390.0
3.0
1.45
FR170
36.6
48.6
12.0
0.17
and
171.0
173.0
2.0
6.52
and
247.0
258.0
11.0
0.30
and
271.0
278.0
7.0
1.38
and
309.0
316.0
7.0
0.37
FR169
206.0
217.0
11.0
0.24
and
224.0
231.0
7.0
0.32
and
374.0
376.0
2.0
4.27
and
388.0
392.0
4.0
0.56
and
452.0
466.0
14.0
0.69
FR168
137.0
145.0
8.0
0.23
and
305.0
312.0
7.0
3.52
and
335.0
338.0
3.0
1.14
and
389.0
394.0
5.0
0.80
FR167
NSA
FR166
186.0
198.0
12.0
0.25
FR165
0.0
26.1
26.1
0.20
and
84.0
86.0
2.0
0.79
and
104.0
106.0
2.0
0.72
and
138.0
145.0
7.0
0.55
and
151.0
171.0
20.0
0.68
and
202.0
224.0
22.0
0.41
and
254.0
256.0
2.0
0.58
FR164
12.6
23.1
10.5
0.43
and
71.0
74.0
3.0
0.49
FR163
NSA
FR162
0.0
8.1
8.1
0.72
and
14.1
18.6
4.5
1.37
and
297.0
309.0
12.0
0.39
FR161
0.0
17.1
17.1
0.58
and
72.6
77.0
4.4
0.95
and
105.0
125.0
20.0
0.14
and
137.0
143.0
6.0
2.12
FR160
NSA
FR159
100.0
122.0
22.0
0.45
and
129.0
136.0
7.0
0.32
and
240.0
243.0
3.0
1.56
and
249.0
259.0
10.0
0.18
FR158
171.0
173.0
2.0
0.53
FR157
0.0
36.6
36.6
0.14
and
119.1
135.0
15.9
0.11
and
195.0
212.0
17.0
3.06
incl.
208.0
212.0
4.0
10.44
FR156
71.1
86.0
14.9
0.37
and
196.0
198.0
2.0
4.19
FR155
164.1
171.6
7.5
0.16
and
197.0
205.0
8.0
0.30
and
260.0
264.0
4.0
0.53
FR154
0.0
30.6
30.6
0.23
and
113.0
117.0
4.0
1.34
and
182.0
186.0
4.0
1.18
and
225.0
239.0
14.0
1.88
and
248.0
253.0
5.0
0.22
FR153
69.6
84.6
15.0
0.56
and
143.0
147.0
4.0
0.92
FR152
131.0
135.0
4.0
0.29
and
162.0
174.0
12.0
0.21
and
222.0
232.0
10.0
0.82
FR151
0.0
12.6
12.6
0.43
and
18.6
21.6
3.0
0.90
and
101.0
107.0
6.0
3.88
and
156.0
162.0
6.0
0.48
and
205.0
215.0
10.0
0.66
and
232.0
234.0
2.0
0.56
FR150
12.6
24.6
12.0
0.30
and
51.6
60.6
9.0
0.15
and
68.1
86.1
18.0
0.23
FR149
NSA
FR148
1.5
9.6
8.1
0.14
and
45.6
54.6
9.0
0.37
and
144.0
148.0
4.0
1.42
FR147
NSA
FR146
185.0
187.0
2.0
0.56
and
193.0
196.0
3.0
1.21
and
310.0
322.0
12.0
0.59
and
328.0
339.0
11.0
0.14
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
FR145
NSA
FR144
53.1
56.1
3.0
0.59
FR143
242.0
245.0
3.0
0.68
and
331.0
340.0
9.0
0.13
FR142
NSA
FR141
56.1
72.6
16.5
0.21
FR140
0.0
12.6
12.6
0.23
and
85.0
87.0
2.0
0.58
and
235.0
237.0
2.0
1.76
FR139
100.0
115.0
15.0
0.38
FR137
173.0
195.0
22.0
0.20
and
211.0
235.0
24.0
0.16
FR136
96.6
101.1
4.5
0.25
FR135
14.1
30.6
16.5
0.14
and
136.0
151.0
15.0
0.20
and
199.0
211.0
12.0
0.18
and
267.0
271.0
4.0
0.32
FR133
80.1
98.1
18.0
0.37
and
260.0
269.0
9.0
0.12
FR131
NSA
FR128
287.0
296.0
9.0
0.30
and
434.0
443.0
9.0
0.36
and
464.0
468.0
4.0
0.60
and
499.0
501.0
2.0
0.84
FR125
68.1
89.1
21.0
0.15
FR119
0.0
20.1
20.1
0.14
and
41.1
48.6
7.5
0.14
FR117
0.0
20.1
20.1
0.47
and
32.0
34.0
2.0
0.74
FR116
0.0
15.6
15.6
0.60
and
90.0
100.0
10.0
0.34
and
384.0
406.0
22.0
0.24
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
*
Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on currently
available results and observations. All are diamond drill holes
.
Average grades are calculated with un-capped gold assays, as insufficient drilling
has been completed to determine capping levels for higher grade gold intercepts. Average widths are calculated using a 0.10 g/t gold cut-off grade
with <5.0 m of internal dilution of zero grade, and a minimum composite length of 2.0 m. Nothing included in table <1 gram * metre.
Table 2: Upper Antino Drill Hole Locations
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Depth (m)
FR174
817152.32
401033.17
153.10
235.20
-50.30
305.00
FR173
817150.50
401036.04
153.11
280.30
-60.20
300.50
FR172
817360.90
400743.63
214.27
240.20
-50.30
200.00
FR171
817279.74
401321.61
175.01
249.50
-50.30
405.00
FR170
817498.60
400824.54
210.37
240.10
-50.30
323.01
FR169
817280.06
401321.72
174.93
249.90
-70.00
487.13
FR168
817352.17
401142.64
158.03
259.70
-55.30
452.00
FR167
817387.24
401615.58
155.73
249.7
-50.30
251.00
FR166
816910.55
400589.80
220.85
270.40
-50.10
199.95
FR165
817290.04
400981.86
168.28
240.10
-70.10
308.00
FR164
816972.57
401799.60
163.18
80.00
-50.00
308.00
FR163
817449.12
401548.35
196.88
249.90
-50.30
252.62
FR162
817248.65
401620.98
150.93
260.00
-50.40
322.96
FR161
817289.64
400981.64
168.26
239.90
-50.30
371.00
FR160
816819.74
400824.49
220.68
270.00
-50.00
201.50
FR159
816889.04
401594.43
178.62
260.10
-70.50
519.54
FR158
816950.53
400815.48
210.36
270.00
-49.90
221.00
FR157
817327.97
400887.57
209.87
240.10
-50.00
269.00
FR156
816888.50
401593.00
179.62
260.10
-50.30
435.60
FR155
817872.05
399983.62
202.59
270.20
-50.00
302.00
FR154
817413.32
400942.87
194.36
240.10
-50.00
258.38
FR153
817278.66
400924.86
178.20
240.00
-50.40
374.00
FR152
817676.96
400156.07
200.63
270.00
-49.80
251.00
FR151
817382.22
400989.82
185.59
240.40
-50.40
240.54
FR150
817548.70
400656.37
214.14
270.00
-50.00
200.00
FR149
817826.05
400163.99
208.00
269.90
-49.90
275.00
FR148
817435.67
400658.27
215.47
270.10
-49.90
227.00
FR147
817954.52
400164.04
200.21
270.30
-50.20
299.00
FR146
816941.02
401353.16
233.14
260.40
-75.00
551.01
FR145
817324.83
400661.86
216.61
269.90
-50.20
200.00
FR144
817533.32
400403.47
208.31
269.90
-50.00
302.00
FR143
816941.28
401353.08
233.14
260.10
-65.10
501.00
FR142
817454.89
401131.61
164.13
260.00
-50.20
173.03
FR141
818176.07
400167.63
203.00
270.00
-50.10
349.87
FR140
817636.75
401164.46
155.35
259.80
-50.20
272.09
FR139
817687.97
400402.89
205.99
270.20
-49.90
250.59
FR137
817786.58
401205.06
156.50
259.80
-50.00
301.98
FR136
817816.78
400411.92
204.83
270.30
-49.80
202.96
FR135
817639.22
401381.32
155.97
250.20
-50.10
322.98
FR133
817969.65
400366.88
206.16
270.30
-50.00
304.95
FR131
818160.06
400381.95
204.98
270.00
-50.30
357.53
FR128
818254.31
400003.46
194.77
270.10
-50.20
560.08
FR125
818029.09
399996.97
176.43
270.40
-50.10
290.20
FR119
817221.99
400866.81
179.97
229.80
-65.00
476.00
FR117
817162.88
400985.76
154.05
245.00
-60.00
414.82
FR116
817163.00
400986.16
153.99
250.20
-69.80
464.00
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Depth (m)
*The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621)
About Founders Metals Inc.
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold
Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 56,000 hectares
and has produced over 500,000 ounces of gold from historical surface and alluvial mining to date
1
. The
Company is systematically advancing one of Suriname's most promising gold exploration and
development opportunities with drill-confirmed, district-scale potential. Founders is committed to
responsible exploration, community engagement, and delivering long-term value to shareholders through
technical excellence and strategic growth in the Guiana Shield.
1
2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
ON BEHALF OF THE BOARD OF DIRECTORS,
Per: "Colin Padget"
Colin Padget
President, Chief Executive Officer, and Director
Contact Information
Katie MacKenzie, Vice President, Corporate Development
Tel: 306 537 8903 |
Harp Gosal, Director, Investor Relations
Tel: 236 301 4211 |
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne,
M.Sc., P.Geol., P.Geo., an independent qualified person as defined by National Instrument 43-101.
Quality Assurance and Control
Samples were analyzed at FILAB Suriname, a Bureau Veritas Certified Laboratory in Paramaribo,
Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75%
passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were
analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that
return assay values over 5.0 grams per tonne (g/t), another cut was taken from the original pulp and fire
assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in
the sample sequence for quality control. External QA-QC checks are performed at ALS Global
Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility). A
secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible
gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by
nature and may not be representative of the mineralization hosted on the project.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation, including statements regarding the use of proceeds from the Company's recently
completed financings and the Company's prospects. Forward-looking information can generally be
identified by words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", "believes", or variations indicating that certain actions, events or
results "may", "could", "would", "might" or "will" occur or be achieved.
Forward-looking statements are based on management's current expectations and reasonable
assumptions but are subject to business, market, and economic risks, uncertainties, and contingencies
that may cause actual results to differ materially from those expressed or implied, including: general
business and economic uncertainties; exploration results; mining industry risks; and other factors
described in the Company's most recent annual management discussion and analysis. Although the
Company has attempted to identify important factors that could cause actual results to differ materially,
other factors may cause results not to be as anticipated. There can be no assurance that forward-looking
information will prove accurate, as actual results and future events could differ materially from those
anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information except in accordance with
applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or